Kontoor Brands (NYSE:KTB) Updates Q4 Earnings Guidance

Kontoor Brands (NYSE:KTB) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of ~$1.38 for the period, compared to the consensus earnings per share estimate of $1.33. The company issued revenue guidance of ~$699 million, compared to the consensus revenue estimate of $697.03 million. Kontoor Brands also updated its Q4 2024 guidance to 1.380-1.380 EPS.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays raised their target price on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and upped their target price for the company from $89.00 to $93.00 in a research report on Friday, November 1st. UBS Group decreased their price target on shares of Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a research report on Tuesday. Guggenheim upped their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company raised their price objective on Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.33.

Kontoor Brands Stock Up 0.2 %

KTB traded up $0.19 during trading on Thursday, hitting $89.46. The company had a trading volume of 254,959 shares, compared to its average volume of 518,878. The company has a market capitalization of $4.93 billion, a PE ratio of 20.15, a PEG ratio of 2.03 and a beta of 1.19. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands has a one year low of $52.95 and a one year high of $96.80. The firm’s 50-day moving average price is $87.13 and its 200 day moving average price is $82.73.

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 2.33%. Kontoor Brands’s dividend payout ratio is presently 46.85%.

About Kontoor Brands

Kontoor Brands, Inc, a lifestyle apparel company, designs, produces, procures, markets, distributes, and licenses denim, apparel, footwear, and accessories, primarily under the Wrangler and Lee brands. The company operates through two segments: Wrangler and Lee. It licenses and sells apparel under the Rock & Republic brand name.